Crypto’s Counterpunch to U.S. Hegemony and Empire

“The Muslim world should be designing measures to save themselves from the domination of the United States dollar and the American financial regime.” —Hassan Rouhani, President of Iran

Hegemony and Muslim Resistance

Hegemony refers to the leadership or dominance of one country or group over others. A nation with the most powerful fiat and control of international banking can achieve hegemony through trade wars, financial sanctions or bribery (aid), and the flex of expensive military might. A dominant state is known as the hegemon. The United States has been the global hegemon for more than half a century.

The globe is rebelling. According to the article “Iran, Turkey, Malaysia Discuss Creating Unified Muslim Cryptocurrency”, at the Kuala Lumpur Summit 2019 — a four-day event that began on December 18 — the Malaysian Prime Minister Mahathir Mohamad, Iranian President Hassan Rouhani, and Turkish President Recep Tayyip Erdogan “discussed the prospect of creating a unified cryptocurrency for Muslim countries.

Rouhani proposed an Islamic financial payment [system] with Muslim countries trading in local currencies and the creation of a Muslim cryptocurrency to cut reliance on the U.S. dollar.” The Malaysian P.M. declared himself open to the “idea of a unified cryptocurrency for Muslim countries.” Read More...

Could cryptocurrency spell the end of USD dominance?

#US #Crypto

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